The trend of placing high-end analysers under reagent rental schemes is gaining momentum in India. It is expected to be the prime factor driving the growth of India’s biochemistry instruments and reagents market.
According to industry sources, the IVD market in India, which is currently valued at approximately US$330 million is expected to grow at an annual rate of 15 to 20%. Of this, 37% comes from the biochemistry instruments and reagents market in India. Consolidation of diagnostic facilities, rising demand for integrated and fully automated high-throughput systems, an ever-expanding number of diagnostics centres and awareness of accreditation are some of the prime factors driving the growth of this market.
Interestingly, reagents contribute 75% to the total biochemistry market. Placement of high-end analysers under reagent rental schemes has been the trend in the biochemistry business and is expected to be the major growth driver in years to come.
Excepting multinational companies, the Indian biochemistry instruments and reagents market is dominated by Transasia, Trivitron, Aggape and CPC Diagnostics, among others. Span Diagnostics and Tulip Diagnostics are aggressive in the reagents segment.
Tags: IVD market